
<table style="text-align:center"><caption><strong>Model Summary</strong></caption>
<tr><td colspan="4" style="border-bottom: 1px solid black"></td></tr><tr><td style="text-align:left"></td><td colspan="3"><em>Dependent variable:</em></td></tr>
<tr><td></td><td colspan="3" style="border-bottom: 1px solid black"></td></tr>
<tr><td style="text-align:left"></td><td colspan="3">Positive Assessment Share</td></tr>
<tr><td style="text-align:left"></td><td>(1)</td><td>(2)</td><td>(3)</td></tr>
<tr><td colspan="4" style="border-bottom: 1px solid black"></td></tr><tr><td style="text-align:left">Moderately Unsatisfactory Rating</td><td>0.105<sup>***</sup></td><td>0.108<sup>***</sup></td><td>0.114<sup>***</sup></td></tr>
<tr><td style="text-align:left"></td><td>(0.071, 0.139)</td><td>(0.074, 0.142)</td><td>(0.076, 0.151)</td></tr>
<tr><td style="text-align:left"></td><td></td><td></td><td></td></tr>
<tr><td style="text-align:left">Moderately Satisfactory Rating</td><td>0.236<sup>***</sup></td><td>0.234<sup>***</sup></td><td>0.232<sup>***</sup></td></tr>
<tr><td style="text-align:left"></td><td>(0.205, 0.267)</td><td>(0.203, 0.264)</td><td>(0.197, 0.267)</td></tr>
<tr><td style="text-align:left"></td><td></td><td></td><td></td></tr>
<tr><td style="text-align:left">Satisfactory Rating</td><td>0.374<sup>***</sup></td><td>0.370<sup>***</sup></td><td>0.370<sup>***</sup></td></tr>
<tr><td style="text-align:left"></td><td>(0.342, 0.406)</td><td>(0.338, 0.401)</td><td>(0.334, 0.406)</td></tr>
<tr><td style="text-align:left"></td><td></td><td></td><td></td></tr>
<tr><td style="text-align:left">Highly Satisfactory Rating</td><td>0.421<sup>***</sup></td><td>0.420<sup>***</sup></td><td>0.416<sup>***</sup></td></tr>
<tr><td style="text-align:left"></td><td>(0.376, 0.466)</td><td>(0.376, 0.465)</td><td>(0.368, 0.465)</td></tr>
<tr><td style="text-align:left"></td><td></td><td></td><td></td></tr>
<tr><td style="text-align:left">Report Type (PPAR)</td><td></td><td>-0.037<sup>***</sup></td><td>-0.039<sup>***</sup></td></tr>
<tr><td style="text-align:left"></td><td></td><td>(-0.054, -0.020)</td><td>(-0.060, -0.019)</td></tr>
<tr><td style="text-align:left"></td><td></td><td></td><td></td></tr>
<tr><td style="text-align:left">Constant</td><td>0.333<sup>***</sup></td><td>0.346<sup>***</sup></td><td>0.260<sup>**</sup></td></tr>
<tr><td style="text-align:left"></td><td>(0.304, 0.362)</td><td>(0.317, 0.374)</td><td>(0.046, 0.474)</td></tr>
<tr><td style="text-align:left"></td><td></td><td></td><td></td></tr>
<tr><td colspan="4" style="border-bottom: 1px solid black"></td></tr><tr><td style="text-align:left">Year FE</td><td>No</td><td>No</td><td>Yes</td></tr>
<tr><td style="text-align:left">Country FE</td><td>No</td><td>No</td><td>Yes</td></tr>
<tr><td style="text-align:left">Observations</td><td>649</td><td>649</td><td>649</td></tr>
<tr><td style="text-align:left">R<sup>2</sup></td><td>0.589</td><td>0.600</td><td>0.702</td></tr>
<tr><td style="text-align:left">Adjusted R<sup>2</sup></td><td>0.586</td><td>0.597</td><td>0.631</td></tr>
<tr><td colspan="4" style="border-bottom: 1px solid black"></td></tr><tr><td style="text-align:left"><em>Note:</em></td><td colspan="3" style="text-align:right"><sup>*</sup>p<0.1; <sup>**</sup>p<0.05; <sup>***</sup>p<0.01</td></tr>
</table>
